[Fed Rate Hike Expectations Rise, Dollar Index Reaches Highest Level Since April 2025] According to Jinshi Data on November 12th, the US dollar strengthened against major currencies on Wednesday, driven by higher-than-expected US inflation for the third consecutive month in October and hawkish comments from Federal Reserve officials. The dollar index rose 0.63% to 102.85, its highest level since April 2025; the dollar rose 0.69% against the yen to 159.83, a more than two-month high, approaching the 160 mark; the euro fell 0.61% against the dollar to $1.11, its lowest level since May 2025. The dollar rose 0.86% against the Swiss franc, its highest level since mid-October. Goldman Sachs has revised its forecast to include Fed rate hikes in December and March next year, while Deutsche Bank expects consecutive rate hikes in December, January, and March next year. Analysts pointed out that rising interest rate expectations have widened the dollar's interest rate advantage, coupled with safe-haven demand from the US-Israel conflict over Iran, continuing to support the dollar.